In House Insurance Agency

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Shopping for an appropriate, cost effective and reliable Medical Insurance , Education policy, Domestic Package Motor Insurance,Personal Accident Insurance Policy?

03/04/2021

Customer service to existing clients, sourcing new clients

27/02/2020

Manage a group of 15 agent in a bid to meet production target.
Individuals who are highly motivated, have had a minimum of 2 years in insurance sales. Holds CoP. College education is an addded advantage

12/01/2020

LIFE INSURANCE IS STILL THE BEST PURSCHASE THAT I EVER MADE

When I got married, my father in law told us to get life insurance. I rolled my eyes - until I realized what could happen to me financially if my husband suddenly died.
Twenty-three years later, my life insurance still brings me peace of mind.

A handful of years later, after getting married and buying land together, my husband and I set out to build our dream house.

"Be sure to get life insurance" was my father-in-law's sage advice. I rolled my eyes, quickly calculating our combined years coming in well below retirement age. "Enough to at least cover the balance on your mortgage should one of you die," he added, causing my head to spin at the thought.

Getting life insurance as newlyweds

Before I knew it, a life insurance salesman was in my living room - swabbing the inside of my cheek and collecting a urine sample - and each of us became the proud owner of a 30-year term life insurance policy. Twenty-three years later, I am still prone to feeling giddy at the smart investment I made in my family's future.

I ultimately changed my mind about getting life insurance for two reasons: First, if someone who had walked this path before me could smooth my journey, I was in. Plus, the bottom line was so cheap at just Ksh. 64,000 an year it didn't make sense not to invest.

This was our primary motivation as a young couple: If one of us died, would the surviving spouse be able to afford the lifestyle we had created for our growing family? With the addition of term life insurance, the answer became a resounding "Yes!"

Life insurance still makes sense two decades later

In the ensuing two decades, life has progressed rapidly, leaving many twists and turns in its wake. My husband and I refinanced our mortgage once or twice as a couple and, following our divorce, I went on to purchase the home independently. Each year, the balance I owe on my mortgage decreases while the value of my life insurance policy remains steady.

I continue to have huge peace of mind knowing that the term policies my now late (and former) father-in-law insisted we purchase will allow my children to remain in their childhood home - with a good chunk of cash leftover - should something catastrophic happen to me. All for what seems like pennies each month.

Why we chose term life insurance over whole life
I was conflicted as to term versus whole life insurance.

The difference? In a nutshell, the dollars paid into term life insurance premiums provide a death benefit to your beneficiaries if you die during the specified term - in my case, 30 years. With whole life, the money invested in premiums builds cash value that can be used later in life or will add to the death benefit that is guaranteed, though whole life comes at a much higher cost than term life.

I made my choice following a general rule of thumb: My family's need for life insurance will likely end when the 30-year term expires. My kids will be grown, my mortgage will have been paid off, and I will have accrued retirement savings.

I don't really want to think about dying - especially at the tender age of 45 - but planning is the prudent thing to do. In the same way that we purchase auto insurance and homeowner's insurance, life insurance is a sensible choice.

Life insurance still gives me peace of mind
Looking back, my only regret is that I did not purchase a larger policy. My term policy comes in at just under $300 each year - that's a cost of about 81 cents per day - a figure we landed on as the death benefit of $250,000 would have allowed me to pay off our mortgage and continue on as a stay-at-home mother in the event my husband died. Suffice it to say, I could have afforded twice that.

I stumbled upon a fantastic quotation the other day from "The Power of Moments" by brothers Chip and Dan Heath: "We feel most comfortable when things are certain, but we feel most alive when they're not."

From my perspective, this kind of sums up life insurance for me: I'm certain I have done my best to put my proverbial ducks in a row, in case the need arises, and I find comfort in this knowledge. In the meantime, I'm going to live my life - embracing all the messy and uncertain parts - no matter what.

Feel free to call us today for your own personalized Quote

0722 941674

07/01/2020

How to select the right life insurance policy.

Insurance decisions have long-term consequences, so evaluate before you choose.

Here is an example. Paul is a young accountant in his first job. He has no financial liabilities. He has been saving small amounts and wants to continue doing so. He has been told about the importance of insurance in ensuring financial stability and is considering taking a life cover.

What are some of the aspects that he Must consider before making this important decision?

Paul is right in considering insurance as an important aspect of financial stability and security. However, the type of insurance he requires depends on his specific needs.
His primary requirement at this stage is protecting himself against loss of income, or a large, unexpected expense, which can derail his income and savings.
Since he has no dependants, a life insurance may not be necessary at this point. So, he should rather consider covers that are more relevant to him.
ONE
Personal accident insurance will cover the loss of income in case an accident leads to temporary disability or inability to work.
Paul will receive an income, according to the policy terms, until he is able to resume work. Life insurance provides protection to income, but only in case of death, though it may have riders that also offer accident cover. However, it may be less comprehensive and will also translate into a higher cost since he will pay premium for life insurance as well, which he does not require.

TWO
Paul must also consider health insurance, to take care of medical costs.
He will be able to get one at a low cost since he is young and healthy. If he renews it regularly and on time, he will have access to a low-cost cover even at a later stage when there may be health complications.

TTHREE
Similarly, if he has a car, a comprehensive motor insurance is a better option than a third party cover as it will cover any loss or damage to his vehicle.

CONCLUSION.
Paul must assess the cost while deciding the type and size of the cover.
Being over-insured will result in a higher than needed premium, while being under-insured will leave his income open to risk. His insurance decisions have long-term consequences and he must evaluate these before committing to these decisions.

Call us today for a free Advisory.
0722 941674

02/01/2020

WHAT TO LOOK FOR WHEN BUYING LIFE INSURANCE

What are the things you should look at while buying a Life insurance policy?

The need for life insurance is to get financial security to dependants in case something happens to the policyholder. Eg in case of death or disability.

While buying a life insurance policy, most clients look at the premium they need to pay and choose an insurance policy accordingly.

However, that’s where most policyholders make the mistake – the moment of truth for a life insurance company is at the time of settling a claim.

The claim settlement ratio of a company is an indicator of the number of claims they have settled over the intimations received by the insurance company.

“The claim settlement ratio reveals the percentage of claims the insurer has paid out during a financial year. Hence, the higher the ratio, the more confidence consumers will have on the life insurer while buying a policy, as it is reflective of the company’s commitment to its consumers.”

The claim settlement ratio reflects the overall risk management ability of the insurer. It demonstrates how efficiently the insurer has implemented the necessary technology and process to w**d out applications that are not genuine.

“Pure protection policies (where there’s no savings component) are more prone to frauds and consequently have a lower settlement ratio,” says an HDFC Life Spokesperson’. Hence, while comparing claim settlement ratios across insurance companies, pay attention to the experience of the insurer, the book size, product mix, and portfolio vintage.

Note that, low pending claim ratio indicates the efficiency of the life insurer, indicting how quickly it decides on the claims it received during the financial year. At the same time, while purchasing life insurance, policyholders should also look at factors other than claim settlement ratios, such as brand, financial robustness of the insurer, product suitability, governance standards, and superior customer service.

Kindly call us today for your quote

28/12/2019

WIBA Insurance Policy

Work Injury Benefits Act (WIBA) of 2007 is an employee benefit plan enforced by the Kenya law that guarantees your employees get financial compensation when, by accident, they suffer injury, become disabled or die while at work.

What it pay for:

• Medical expenses.
• Funeral expenses. • Accidental Death.
• Permanent Total Disablement (PTD)
• Temporary Total Disablement (TTD)
• Occupational diseases.

This is a combination of the workmen injury benefit act (WIBA) and Group Personal Accident (GPA) covers, intended to give an employer a one stop solution for employee insurance. It addresses the workplace risk as well as off-duty risks

While payout under the WIBA section is standard as per the Act, benefits under the GPA cover can be tailored to suit individual needs – e,g Compensation computed as Annual salary multiplied by 3, 5 or 8 years.

Work Injury Benefit as set out by an Act of Parliament. (WIBA Act of 2007) Every employer is bound to compensate employees for any death / injury while on duty. Payment is for Death, Disability, and Medical expenses and funeral costs.

The Labour office administers all claims under this act and directs the employer on amounts payable.

However the Act requires that all employees are insured for the under noted benefits should the injury arise while the staff is at work:
Description of Liability Limit of Compensation

Liability Limit of Compensation

1. Death: Compensation as a Multiple of Annual Salary
2. Permanent Total Disability: Compensation as a Multiple of Annual Salary
3. Temporary Total Disability: Based on actual weekly salary
Up to a Maximum of 104 Weeks For Each
4. Medical Expenses Limit of Choice

Please contact us today for a quote or for more information.

0722 941674
Ephantus

25/12/2019

Traveling this Holiday season?

Travel Insurance Cover.

Get Cover

This policy covers persons who travel abroad from time to time and wish to insure themselves against accidents and loss or damage to their properties in the course of travel.

It covers:

- Emergency medical expenses

- Loss of personal property/ money or documents

- Curtailment/Cancellation

- Hijack,detension

- Luggage protection

- Personal liability

Emergency Assistance.

In the event that the Insured requires im- mediate emergency assistance, contact the Assistance Company alarm centre immediately. Reverse charge calls will be accepted.

Full Premium reimbursable in the event of visa denial/refusal

Schedule Of Benefits

Pre-existing conditions not covered.
Annual Multi Trip max any one trip if exceeding 90 days to seek authorization.
Grace period: Minimum 15 days as per visa code.

Requirements.

Insured person’s name
Insured person’s location
Your contact telephone number
The Insured person’s Policy number
The Insured plan of benefits selected
The nature of the claim and the type of immediate assistance.

Kindly contact us today for a Quote.

21/12/2019

Personal accident Insurance

Personal accident Insurance cover is designed to provide financial help if you have a serious accident or injury, or if you suffer a fatal accident. This policy covers persons against bodily injury effected solely through external, violent and accidental means.

Compensation is paid in case of Death, Permanent Total Disability, Permanent Partial Disability and Temporary Total Disability. The policy also covers hospitalization following an accident. How does it work?

With personal accident cover, you pay an annual premium which usually remains the same during the length of the policy. You will receive a cash compensation if you have an accident or receive a serious injury during the policy term. The cover also helps to ensure your family are provided for if you have a fatal accident.

Personal accident insurance usually gives you coverage almost anywhere in the world (T&Cs apply) and medicals aren’t normally required before you take out the cover. You may also be able to add your children to your policy – but they will most likely have a reduced level of cover.

Some insurers allow you to pick different levels of cover. A higher level of cover will provide a larger cash payout in the event of accident or fatal injury.

Underwriting Guidelines.

The insured must provide details of all persons covered
Age limit 65 years
Duly filled proposal form.

Price Range from as low as Ksh 1,000 for a student P.A.

Call us today for your Personal Accident Cover.

19/12/2019

Benefits of Fire, Special Perils and BURGLARY insurance.

Sometimes as house and property owners we may worry about the safety of our houses and the security of our belongings as well as other valuable items in the building either residential or business building.

We may also worry about the destruction or loss of our properties to fire, flood and other special peril which may be beyond our control.

In order not incur huge financial losses due to any of these events, the best bet is to purchase a burglary, fire, and other special peril insurance.

In this article, we will look at the benefits of purchasing these types of insurance policy and their extent of coverage. Each of these insurance policies provides financial compensation for different case scenarios. These are:

Burglary insurance.

This policy covers the following:
Damages to premises from burglary or attempt of burglary
Stock, furniture and other belonging owned by the insured in the residential or business premises.
Cash, pieces of jewelry and other valuables kept in a locked safe if specifically covered.

Fire and special peril insurance.

This policy cover:
Fire
lightning
flood
an explosion in a ship, train or plane.
storm, hurricane, tornado
subsidence at landslide including rock slide among other risks.

For more information or to get a Quote, call us today.

0722 941674
In House insurance Agency

15/12/2019

Why take a life insurance today?

The other day before I got on a plane for a recent weeklong international business trip, I sent my sister a text message. "Not to be overly morbid, but I have a life insurance policy with Company X. Paolo wouldn't know where to begin."

"Understood," she replied a minute or so later. "Hopefully info I don't need to know."

I hadn't thought of that policy for a while, other than being reminded of it when I noticed the monthly premium deducted from my bank account. But prior to the longest and longest-distance trip I'd taken away from my husband and young daughter, I figured I should make sure that someone besides me knew what paperwork to look for.

My Italian husband speaks English fairly well, but I'm not sure he'd be able to navigate grief, loss, and pursuing a death payout with a giant American insurer.

So, much like delegating to a loved one the responsibility of scattering the ashes, I put my sister in charge of chasing down the money should anything happen to me.

Why I bought a life insurance policy
Should anything happen to me. I first seriously considered that possibility when I became responsible for the lives of other human beings - and that's when I bought a term life insurance policy worth $100,000.

I was self-employed and shopping for health insurance when the salesperson, who had called on me at home, asked if I was interested in a life policy as well.

Two rooms away, I could hear the muffled tones of the TV in front of which my 80-year-old parents were seated - dozing, probably - in recliners.

They'd been living with me for about six months at that point, as they could no longer afford to maintain their own home or pay for assisted living.

I was 33, single, hustling to make a living as a freelance writer and editor, and increasingly feeling the weight of responsibility of caring for them. Should anything happen to me, what would happen to them?

A mouth swab later (to confirm that I was a non-smoker), and I was the holder of a $100,000, 20-year term life insurance policy that cost me $12 a month, automatically deducted from my checking account.

Purchase a life insurance policy from Policygenius today and protect those who depend on you »

Within a few months, I increased the policy to $250,000, which changed my premium to $18 a month. That was still peanuts to pay for peace of mind and an abstract concept - my elderly parents outliving me - that I figured would never really become reality.

By the time I purchased that effortlessly cheap life insurance policy those many years ago, I'd already done some adult things. I was a homeowner twice over. I had pets. I'd made the decision to forge an unconventional career as a freelancer, and I was rocking it.

But buying that policy had more gravitas than any other of those big adulting moves I'd made. The realization that I was responsible for the well-being of other human beings, even if I was no longer around, meant that I had crossed the threshold to full-on mature adulthood - and there's been no turning back.

My life insurance premium is about to go way up
Fast forward 20 years, and my parents are no longer the beneficiaries of my life insurance policy. Now, it's my husband and young daughter.

A payout of $250,000 might not be that much in the grand scheme of things, nor would it assuage their grief - or my eternal guilt in the afterlife for abandoning them too soon. But it's enough to pay for college, pick up and move to another city, and provide a little bit of a soft landing after what I trust would be a devastating blow.

As is the rule with term life insurance policies, that attractively low premium comes with an expiration date. Next year, the premium will jump from its current $18 to just under $200 - I guess since the possibility of me actually dying, so abstract at 33, is a lot more plausible at 53.

That's the clincher with term life insurance - it works according to the laws of attrition, which are not in favor of the aging. It's cheap when you're young, and a lot more expensive when you hit middle age.

And if I cancel the policy now, it has no cash value (unlike whole life policies, which can have some payout if cancelled), so the $4,500 or so I've paid into it is gone in a p**f.

It was easy to not think about an $18 monthly expense - less than half of what I pay for a gym membership or to get my nails done once a month. But $200 a month? We'll feel that, and my husband and I need to decide whether we'll maintain the policy or cancel it.

He doesn't like to talk about such things - too morbid for him. Yet people my age - including friends and relatives - drop dead of heart attacks or aneurysms; they get cancer and they have fatal car accidents.

That I get on planes and trains frequently and without my family only increases (marginally perhaps, but still) the odds that something actually could happen to me.

Is $200 too much to spend for my loved ones' security, and for my peace of mind? Where's the line between a strictly economic decision - for which the answer would surely be no - and a pragmatic and emotional one: How much is peace of mind actually worth?

I have all the questions and none of the answers, and I suppose we'll put off making a decision until the rate increase kicks in.

For the record, there's one thing I do know: Having a life insurance policy doesn't make me worry any less about the plane crashing.

Life insurance will never be cheaper than it is today.

Call us today for a quote.

15/12/2019

Domestic Package Insurance

Our Domestic package policy covers a private dwelling house or private flat and its contents, owners and tenants’ legal liability and domestic servants.

It provides cover for the following;


Section A-Buildings

Under this section we cover loss of or damage to a private dwelling house or a private flat including domestic outbuildings, landlord’s fixtures and fittings, walls, gates and fences on the same premises caused by:
Fire and natural causes such as earthquakes, storms and tempests, lightning, and floods;
Human causes such as riots and strikes, malicious damage, and theft;
Chemical related, that is exposure e.g of domestic gas cylinders and
Miscellaneous causes, including bursting and overflowing of water tanks, apparatus, pipes, impact by road vehicles and animals not belonging to or under control of the insured or their agents.


Section B-Contents

Under this section we cover loss of or damage to furniture, household goods and personal effects of every description the property of the insured or any member of his family normally residing with him and fixtures and fittings, which the insured's owns or for which he is legally responsible not being landlord’s fixtures and fittings.

Section C-All risks

Under this section we cover loss of or damage to property (portable items such as cameras, radios, jewellery, and sports kits) insured by any cause/peril not specifically excluded in the policy.
This is a very wide cover and insures will often want the items listed with a value indicated for each.
Whenever wherever you are we shall cover your All risks Items worldwide.


Section D-Workmen compensation

Under this section we shall cover your employees for injuries or death or disease that arises out and in the course of employment.
We shall cover your domestic servants like house-help, watchman, ground men, gardeners and drivers.


Section E-Owners’ liability

Under this section we shall pay liabilities at law or compensate you in respect of;
Accidental bodily injury (including illness) to any person other than a member of your family or household or a person in his service at the time of the occurrence giving rise to the injury.
Accidental loss or damage to property Accidental loss or damage to property belonging to third parties and not those in your custody or of a member or your family or household or a person in your service.


Section F-Personal/occupier’s liability

Under this section we shall compensate you against liability at law in respect of:
Accidental bodily injury (including illness) to any person other than a member of your family or household or a person in your service at the time of the occurrence giving rise to the injury.
Accidental loss or damage to property belonging to third parties and not those in your custody as the insured or of a member or your family or household or a person in his service.


Requirements

Duly completed and signed proposal form
Company certificate of registration
PIN certificate for the company
List, names and location of the items insured
Schedule of the contents and their values to be insured.
Serial numbers of the items insured.
For buildings the Location of the structure i.e Land Reference Number(LRNO)


Target Group

Our policy is ideal for:

Non-financed Individual home owners.
Financed/Mortgage customers.
Individuals leaving in rented premises to cover their contents of every description.
Individual owners of private flats.

Call us today for a Quote
0722 941674

14/12/2019

What is Life Insurance?
New to buying life insurance? Learn how it works and what you need to understand to choose your coverage.

A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death.

Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage. It's important to note that death benefits from all types of life insurance are generally income tax-free.1

There are many varieties of life insurance. Some of the more common types are discussed below.

Term life insurance
Term life insurance is designed to provide financial protection for a specific period of time, such as 10 or 20 years. With traditional term insurance, the premium payment amount stays the same for the coverage period you select. After that period, policies may offer continued coverage, usually at a substantially higher premium payment rate. Term life insurance is generally less expensive than permanent life insurance.

Needs it helps meet: Term life insurance proceeds can be used to replace lost potential income during working years. This can provide a safety net for your beneficiaries and can also help ensure the family's financial goals will still be met—goals like paying off a mortgage, keeping a business running, and paying for college.

It's important to note that, although term life can be used to replace lost potential income, life insurance benefits are paid at one time in a lump sum, not in regular payments like paychecks.

Universal life insurance
Universal life insurance is a type of permanent life insurance designed to provide lifetime coverage. Unlike whole life insurance, universal life insurance policies are flexible and may allow you to raise or lower your premium payment or coverage amounts throughout your lifetime. Additionally, due to its lifetime coverage, universal life typically has higher premium payments than term.

Needs it helps meet: Universal life insurance is most often used as part of a flexible estate planning strategy to help preserve wealth to be transferred to beneficiaries. Another common use is long term income replacement, where the need extends beyond working years. Some universal life insurance product designs focus on providing both death benefit coverage and building cash value while others focus on providing guaranteed death benefit coverage.

Whole life insurance
Whole life insurance is a type of permanent life insurance designed to provide lifetime coverage. Because of the lifetime coverage period, whole life usually has higher premium payments than term life. Policy premium payments are typically fixed, and, unlike term, whole life has a cash value, which functions as a savings component and may accumulate tax-deferred over time.

Needs it helps meet: Whole life can be used as an estate planning tool to help preserve the wealth you plan to transfer to your beneficiaries.

Comparing Types of Life Insurance
Term Life
Insurance Universal Life Insurance Whole Life
Insurance
Needs it helps meet Income replacement during working years Wealth transfer, income protection and some designs focus on tax-deferred wealth accumulation Wealth transfer, preservation and, tax-deferred wealth accumulation
Protection period Designed for a specific period (usually a number of years) Flexible; generally, for a lifetime For a lifetime
Cost differences Typically less expensive than permanent Generally more expensive than term Generally more expensive than term
Premiums Typically fixed Flexible Typically fixed
Proceeds paid to beneficiaries Yes, generally income tax-free Yes, generally income tax-free Yes, generally income tax-free
Investment options No No2 No
May help build equity No Yes Yes
Available through Fidelity Yes, Fidelity Term Life Insurance3 Yes, Universal Life Insurance, primarily focused on death benefit protection No, traditional Whole Life Insurance is not currently offered
How cost is determined
Insurers use rate classes, or risk-related categories, to determine your premium payments; these categories don't, however, affect the length or amount of coverage.

Your rate class is determined by a number of factors, including overall health, family medical history and your lifestyle. To***co use, for example, would increase risk and, therefore cause your premium payment to be higher than that of someone who doesn't use to***co.

Next step
Determining your coverage need
Learn strategies for choosing the right amount of coverage.

To buy or learn more

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Mama Ngina Street
Nairobi

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